Condominiums will probably escape 2012 with a slight gain in value despite continued neglect of this market segment by lenders. Resale average price has increased by 1.2 percent over last year-to-date, while the number sold continues to show healthy gains. Nearly 15 percent more condominiums have sold through November. Sales in the past two months have been close to the nine-year average number sold.
The inventory appears to have bottomed at about 1,550 total Summit County properties for sale.
99 ... average number of condominiums sold in November since 2003
78 ... number of condominiums sold in November 2012
Chuck Leathers is the broker/owner of Chuck Leathers Real Estate Co. He can be reached at (888) 485-2300 or email him at ChuckLeathers@Realtor.com.